Probability of a worsening Austin mortgage price change is gaining

July 19, 2010

Stocks are ok, trading between flat and plus 50 on the Dow (currently up 35). The 10 year is behaving, down only 1/32nd but mortgage backs are widening. Probability of a worsening Austin mortgage price change is gaining. Nothing huge, just volatile. Home builders confidence did nothing to help the economy, slipping to levels not seen since early 2009. The economic data week ahead is light with Housing data tomorrow and Weekly Claims/Housing on Thursday. As I mention late last week, borrowers should be careful as the market continues to churn on headlines from out of the blue!

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